India provides hydropower energy investments in Nepal
India has experienced a providential economic advancement in the last couple of decades, with growth rate nearing nine percent. The growth rate of the country is expected to raise more and the demand for power in the subcontinent will increase twofold by 2030. Currently India requires 0.2 million megawatt of electricity, this is equivalent to five times the potential viable capacity of Nepal. If the hydropower station is installed in Nepal and the power from the station is distributed India, it will integrate the power market of both the nation. India largely depends on the coal plant for the power, about 70 percent of India’s energy needs are derived from coal power plants and these coal power plants are not eco friendly or sustainable. The government of India should make investments in energy and develop a suitable alternative solution for the coal power, since there would a tremendous shortfall of coal, by the end of 2030.
The installation of the hydro power station in the Nepal can reduce India’s dependence on coal and government of India should increase the energy investments and develop projects on wind power, solar power, and tidal power for the rising demand in the subcontinent. The power plant in Nepal can increase the electrical earnings via exporting power to Ito India, and this would be an excellent opportunity for the country to develop their economy. Nepal has been experiencing trade imbalance with India, and this opportunity will help Nepal to expand the economic activities and will palliate their economic problems. India is very enthusiastic to implement the hydro power station in Nepal and it is ready to furnish the energy investments required for the project since northern part of the country is facing a huge power shedding.
The Confederation of Indian Industry and the Federation of Nepalese Chambers of Commerce and Industry recently discussed to enhance the economic relationship between the two nations. The conference emphasized the government of both the countries should encourage energy investments to the private sector, for the development of energy industries. The meeting also focused on the development of various sectors such as health, building, BPO, Information technology and infrastructure so that both the governments could provide joint investments. The Chief Executive of the Federation of Nepalese Chambers of Commerce and Industry Kush Kumar Joshi asserted that, the investments furnished by India is very vital and it is utilized for the economic enhancement of Nepal. He also encouraged the Indian capitalists to render investments in education, tourism, infrastructure, hydropower, health and other versatile sectors.